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Miscellaneous electrical machinery, equipment & supplies company · L3 · FY ends Dec · Revenue $104M · -29.71% margin · -$44M FCF
The business is unprofitable at the operating level (-29.71% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 32.8% YoY with margins expanding 11.3pp.
Negative free cash flow of -$44M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$104M
▲ +32.8% YoY
Net Income (TTM)
-$53M
▲ +32.9% YoY
Op. Margin
-29.71%
▲ +11.3pp YoY
ROIC
-127.04%
Cash Flow & Balance Sheet
FCF (TTM)
-$44M
▼ -17.5% YoY
Op. Cash Flow (TTM)
-$32M
▼ -2.5% YoY
Net Debt
$39M
Cash & Equiv.
$6M
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